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Raven Industries moves up on a mixed Q2; revenues beat

  • Raven Industries (RAVN +2.7%) trades higher today after the industrial manufacturer earlier reported Q2 EPS that came in below estimates, but beat on its top line revenue number.
  • Sales were $93.4M, above estimates for $90.66M.
  • Sales rose modestly in its Engineered Films division, but were down slightly in Applied Technology.
  • Aerostar sales declined 23%, largely due to reduced demand from U.S. government agency customers.
  • Looking forward, the company notes that it sees its H2 profit growth improving on a Y/Y basis, 2014 could be flat.
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